Global Tembotrione Market: Snapshot
The growing demand for expanding the range of post-emergence herbicides has boosted the evolution of the tembotrione market. The emerging demand for triketone herbicides for the selective control of broadleaf weeds and annual grasses in corn is the key factor driving the growth of the market. The technology of rapid bleaching and elimination of susceptible weeds has propelled the demand for tembotrione, a key ingredient in triketone herbicides.
The active ingredient tembotrione has been marketed as Laudis OD by Bayer in 2008. Bayer Cropscience LP, the only manufacture of tembotrione, has patented the technology and enjoys rights of data protection for some time even after the expiry of the patent. This is expected to limit the competition from manufacturers engaged in manufacturing generics versions. Rapid advances in weed control technology has further improved the modes of action and bleaching ability of tembotrione, positively impacting the market. The use of tembotrione to control glyphosate-resistant weed augurs well for the market growth over the forecast period.
The tembotrione market is expected to rise at a CAGR of 13.4% from 2013 to 2020. The opportunities in the market is projected to reach US$51.2 mn by the end of the forecast period.
Tembotrione as Herbicides for Corn to Witness Substantial Demand
Based on application, the tembotrione market is segmented into corn and research commodity. The primary areas of tembotrione herbicides are in sweet corn, seed corn, and popcorn crop fields. The crop protection industry is witnessing exciting opportunities due to the continuous launch of innovative formulations. The corn application segment accounted for a major share in the global tembotrione market in 2013 and is expected to show a spectacular growth over the forecast period. The growing popularity of non-selective herbicides such as glufosinate and glyphosate in some corn varieties has also positively impacted the growth of this segment.
The recent approval of the use of herbicides is several countries of European Union is expected to catalyze the demand for tembotrione herbicides in corn fields. Furthermore, the demand for innovative bleaching technology among corn growers in various developing regions is expected to bolster the uptake.
On the other hand, the application of tembotrione across research institutions is driven by their efforts for developing and expanding unwanted herbicides for sorghum and soybean. However, at present, in terms of volume, the share of the segment is low.
Asia Pacific to Offer Lucrative Growth Avenues through Forecast Period
On the basis of geography, the tembotrione market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Of these, currently North America dominates the global market and the major demand for tembotrione herbicides comes from the U.S. The growth of the regional market is driven by the presence of the wide availability of the product in the U.S. and Mexico. The herbicide ingredient is approved for use in several states of the U.S.
This North America market is followed by the Europe market for tembotrione and is projected to witness significant growth over the forecast period. The approval of the herbicide by the European Commission under EU plant protection regulation in 2014 has boosted the regional market. Meanwhile, in the RoW region, Brazil and Argentina witnesses a substantial consumption of tembotrione, primarily driven by extensive corn productions and early regulatory approval of the herbicide. Meanwhile, Asia Pacific is expected to offer lucrative growth avenues for the tembotrione market, driven by large untapped opportunities in several corn-growing nations.
Tembotrione is a selective postemergence herbicide used to control broadleaf and grass weeds in cornfields. The herbicide was launched in 2007 in two grades: technical grade (96.2%) and liquid product grade (34.5%).
This study segments the global tembotrione market based on key regions and types of crops. It includes a market analysis in terms of volume (tons) and revenue (US$ Mn). The study includes tembotrione market estimates for 2014 and forecast for the period from 2015 to 2020. Two applications fall in the scope of the study: cornfields and all other applications (such as research tools). Tembotrione is primarily used as an herbicide against weeds affecting corn crop, which comprises corn seeds, sweet corn and popcorn. Occasionally, it is also used as a research commodity.
The market is further segmented regionally, with North America, Europe, Asia Pacific and Rest of the World (RoW). Europe includes Western (including EU and non-EU members), Central and Eastern Europe, while RoW includes South and Central America, Africa and the Middle East.
This study on tembotrione also includes the profile of the inventor company – Bayer CropScience AG. Currently, Bayer CropScience holds the patent for tembotrione; no other company manufactures the product.
Different crop types in each region have been considered for the global average price while breaking down this market. The prices considered in the report are for technical grade. The volume of the market is for the active ingredient (tembotrione) and not for the carrier. The tembotrione market has been analyzed based on expected demand. Market estimates for this study have been based on volumes, with revenues being derived through regional pricing trends. Prices considered for calculation of revenue are average regional prices obtained through primary quotes from numerous regional suppliers, distributors and direct selling regional producers, based on manufacturer feedback and application requirement. We have used the bottom-up approach to arrive at the global market, considering individual crop type segments and integrating these to arrive at the global market. Crop type segments have been further bifurcated using the top-down approach to derive the regional product market.
In order to compile the research report, we conducted in-depth interviews and discussions with a wide range of key industry participants and opinion leaders. Primary research represents the bulk of our research efforts, supplemented by extensive secondary research.
We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following functions: It provides first-hand information on market size, market trends, growth trends, competitive landscape, outlook, etc.: helps in validating and strengthening the secondary research findings; and further develops the analysis team’s expertise and market understanding. Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies.
We reviewed key players’ product literature, annual reports, press releases and relevant documents for competitive analysis and market understanding as part of secondary research. Secondary research also includes a search of recent trade; technical writing; internet sources; and statistical data from government websites, trade associations and agencies. This has proven to be the most reliable, effective and successful approach for obtaining precise market data, capturing industry participants’ insights and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings, internal and external proprietary databases relevant patent and regulatory databases, national government documents, statistical databases and market reports. Also referred are news articles, press releases and webcasts specific to companies operating in the market. Secondary sources referred for tembotrione study include the U.S. Department of Agriculture (USDA), the U.S. Environment Protection Agency (EPA), Food and Agriculture Organization Corporate Statistical Database (FAOSTAT) and Friends of the Earth Europe (FoE Europe).
The report segments the global tembotrione market as:
- Tembotrione Market - Crop Type Segment Analysis
- Other Applications (Including research commodity, etc)
- Tembotrione Market - Regional Analysis